KVORUM
compoundSource: Compound governor bravo · #339

[Gauntlet] - Supply Cap Recommendations (2024-09-30)

executedOct 6, 2024, 12:54 PM UTCby680x683a…6c02

01Summary

AISummary by Kvorumclaude-haiku-4-5

Gauntlet recommends adjusting supply caps across multiple Comet markets on Mainnet, Arbitrum, Optimism, and Polygon to increase capital efficiency. Most assets see cap increases (wstETH, ezETH, MaticX), with only WBTC on Mainnet USDT seeing a decrease from 5,000 to 1,400.

Type
parameter change

Key changes

  • Increase USDT Mainnet wstETH supply cap from 22,000 to 28,000(medium)
  • Increase WETH Mainnet ezETH supply cap from 18,000 to 25,000(medium)
  • Decrease USDT Mainnet WBTC supply cap from 5,000 to 1,400(high)
  • Increase WETH Arbitrum ezETH supply cap from 4,000 to 6,400(medium)
  • Increase USDT Arbitrum wstETH supply cap from 10,000 to 16,000(medium)
  • Increase WETH Optimism ezETH supply cap from 750 to 1,200(low)
  • Increase USDT Polygon MaticX supply cap from 2,600,000 to 4,160,000(medium)
  • Increase USDC Polygon MaticX supply cap from 2,000,000 to 3,200,000(medium)

Notable concerns

  • WBTC supply cap decrease on Mainnet USDT represents a significant reduction that may restrict borrowing capacity for this asset
Contracts0x316f9708bb98af7da9c68c1c3b5e79039cd336e30x1ec63b5883c3481134fd50d5daebc83ecd2e87790xfe5e5d361b2ad62c541bab87c45a0b9b018389a20x25ace71c97b33cc4729cf772ae268934f7ab5fa10x4dbd4fc535ac27206064b68ffcf827b0a60bab3f
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

181 words

[Gauntlet] - Supply Cap Recommendations (2024-09-30)

Summary

Gauntlet recommends the following risk recommendations to the protocol:

  • Increase USDT Mainnet wstETH supply cap from 22,000 to 28,000
  • Increase WETH Mainnet ezETH supply cap from 18,000 to 25,000
  • Decrease USDT Mainnet WBTC supply cap from 5,000 to 1,400
  • Increase WETH Arbitrum ezETH supply cap from 4,000 to 6,400
  • Increase USDT Arbitrum wstETH supply cap from 10,000 to 16,000
  • Increase WETH Optimism ezETH supply cap from 750 to 1,200
  • Increase USDT Polygon MaticX supply cap from 2,600,000 to 4,160,000
  • Increase USDC Polygon MaticX supply cap from 2,000,000 to 3,200,000

Motivation

This recommendation aims to increase supply caps for various assets across multiple Comets. Gauntlet recommends to increase supply caps to increase capital efficiency within the Comets.

Full proposal and forum discussions can be found here

Specification

The proposal updates the parameters by using the respective methods on the Configurator.

By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos

03Mismatch analysis

AIMismatch analysis by Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

8 total
#0updateAssetSupplyCap(address,address,uint128)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetSupplyCap(address,address,uint128)
Arguments
{
  "0": "0xA17581A9E3356d9A858b789D68B4d866e593aE94",
  "1": "0xbf5495Efe5DB9ce00f80364C8B423567e58d2110",
  "2": "25000000000000000000000"
}
Calldata
#1deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3",
  "1": "0xA17581A9E3356d9A858b789D68B4d866e593aE94"
}
Calldata
#2updateAssetSupplyCap(address,address,uint128)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetSupplyCap(address,address,uint128)
Arguments
{
  "0": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "1": "0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599",
  "2": "140000000000"
}
Calldata
#3updateAssetSupplyCap(address,address,uint128)chain 0x1
Target
0x316f…36e3
Value
0 wei
Function
updateAssetSupplyCap(address,address,uint128)
Arguments
{
  "0": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840",
  "1": "0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0",
  "2": "28000000000000000000000"
}
Calldata
#4deployAndUpgradeTo(address,address)chain 0x1
Target
0x1ec6…8779
Value
0 wei
Function
deployAndUpgradeTo(address,address)
Arguments
{
  "0": "0x316f9708bB98af7dA9c68C1C3b5e79039cD336E3",
  "1": "0x3Afdc9BCA9213A35503b077a6072F3D0d5AB0840"
}
Calldata
#5sendMessageToChild(address,bytes)chain 0x1
Target
0xfe5e…89a2
Value
0 wei
Function
sendMessageToChild(address,bytes)
Arguments
{
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}
Calldata
#6sendMessage(address,bytes,uint32)chain 0x1
Target
0x25ac…5fa1
Value
0 wei
Function
sendMessage(address,bytes,uint32)
Arguments
{
  "0": "0xC3a73A70d1577CD5B02da0bA91C0Afc8fA434DAF",
  "1": "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",
  "2": "2500000"
}
Calldata
#7createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)chain 0x1
Target
0x4dbd…ab3f
Value
3110095500000000 wei
Function
createRetryableTicket(address,uint256,uint256,address,address,uint256,uint256,bytes)
Arguments
{
  "0": "0x42480C37B249e33aABaf4c22B20235656bd38068",
  "1": "0",
  "2": "2200010000000000",
  "3": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "4": "0x3fB4d38ea7EC20D91917c09591490Eeda38Cf88A",
  "5": "1820171",
  "6": "500000000",
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}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive

Arguments for

  • wstETH USDT supply cap increase is justified because current and largest positions can be liquidated with slippage below the liquidation penalty, ensuring profitable liquidations.— Gauntlet
  • ezETH supply cap increases across Mainnet, Arbitrum, and Optimism are warranted because utilization has been trending upwards on these chains.— Gauntlet
  • wstETH USDT Arbitrum supply cap increase is appropriate given sufficient on-chain liquidity with acceptable slippage and profitable liquidation opportunities for largest accounts.— Gauntlet
  • MaticX supply cap increases on Polygon for both USDT and USDC are supported by sufficient liquidity to liquidate largest positions with slippage adequate to incentivize liquidators.— Gauntlet

Arguments against

  • WBTC USDT supply cap should be decreased because the current cap is underutilized and this aligns with previous risk-off recommendations.— Gauntlet

Notable participants

  • GauntletRisk analyst proposing supply cap adjustments with quantitative analysis and on-chain liquidity data across multiple chains and assets.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗